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deficit in europe. this at a time when the whole world is concerned about high deficits and our economic stability depends on allaying those concerns. to back down now and abandon our plans would be the road to economic and ruin. we will stick to the course. we will secure our country's stability. we will bring britain bought from the brink of bankruptcy. >> in total, he announced $137 billion worth of spending cuts. just under half a billion jobs will be cut. the pension age will rise to 66 by 2020. the full -- the welfare budget will be cuts. >> summit members -- some members say this is their ideological objective. not all of them. but for many of them, this is what they came into politics to do. >> britain is not alone in needing to cut its budget deficit. the unrest in increase earlier this year underlined the need for action across western economies. but britain's budget deficit is just over a 11% economic output. that compares with seven. -- 7% in the united states. germany has a deficit of just
deficit in europe. this at a time when the whole world is concerned about high deficits and our economic stability depends on allaying those concerns. to back down now and abandon our plans would be the road to economic and ruin. we will stick to the course. we will secure our country's stability. we will bring britain bought from the brink of bankruptcy. >> in total, he announced $137 billion worth of spending cuts. just under half a billion jobs will be cut. the pension age will rise to...
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Sep 10, 2022
09/22
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and if you look at our national deficit right now, about a quarter to a third of it is funding to the war on terror. the sult becomes that the american people, by and large, are anesthetized to the cost of these wars. and the result is a 20-year war that's fought by a slim segment of the american population, and what we're left with is also a very wide civil-military divide that exists in america today. >> you talk about a construct to sustain the war. and i wonder about a construct to sustain public opinion in support of the war. because the political leadership at the time of 9/11, for the public, it was, "go to the mall, return to normal life, don't let the terrorists win." and i wonder if that political narrative undermined the long-term mission of the war on terror. >> oh, i agree with that, and i think that what we see is, there are second- and third-order consequences for fighting a war this way. so, one of the lessons the political class took from vietnam is that a draft is extremely unpopular. and so we had this all-volunteer military that we had built that was and remains ve
and if you look at our national deficit right now, about a quarter to a third of it is funding to the war on terror. the sult becomes that the american people, by and large, are anesthetized to the cost of these wars. and the result is a 20-year war that's fought by a slim segment of the american population, and what we're left with is also a very wide civil-military divide that exists in america today. >> you talk about a construct to sustain the war. and i wonder about a construct to...
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Sep 22, 2011
09/11
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. >> the government says these measures are needed to reduce the deficit and qualify greece for further funding from the eu and imf the. -- and imf. an indication of the depth of resentment was police officers and firefighters protesting outside the german embassy. they blame outsiders for insisting on austerity. one banner said we demand respect. we are a proud nation. this is now a moment of truth for greece. for these protesters, and their opposition to austerity -- do they represent the majority, or is there a silent majority that believe the public sector is bloated and needs cutting back? the extent of the resistance will be tested. it is likely that as a result greece will get emergency funding next month. but with no growth and a debt level of 360 billion euros, doubts remain whether sooner or later this country can avoid defaulting. bbc news, athens. >> here to help us way through the many factors weighing down our global economy is a bbc correspondent who spent her day at the imf. the warnings were very clear, but is there any sense that the plan is emerging? >> i think it is
. >> the government says these measures are needed to reduce the deficit and qualify greece for further funding from the eu and imf the. -- and imf. an indication of the depth of resentment was police officers and firefighters protesting outside the german embassy. they blame outsiders for insisting on austerity. one banner said we demand respect. we are a proud nation. this is now a moment of truth for greece. for these protesters, and their opposition to austerity -- do they represent...
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Jul 11, 2012
07/12
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in britain. >> so addressing deficits first, and less deficit reduction, what we are saying here is focus on the middle class and then being able to have jobs and income and if you do that you are also in the process, i believe, process probably do better on addressing the deficit. >> this argument is being made in europe and here which is the idea that if you are too austere in your budget and in your proposals and in your effort to deal with the deficit you eliminate possility of growth and there is no way for us, with all of the conditions without economic growth. >> i think it is more argument it is just plain -- >> this is something very important. look, if the crushing debt of the united states could that be terrible for the middle class in a country? of course it could. but if you solve it -- destroys what is left of the middle class, what do you have? if you say the biggest problem we have is a country is the fact we can't bro the middle class or people are falling out of it then that leads you to a different set of policies to deal with the deficit, it is not saying -- we a
in britain. >> so addressing deficits first, and less deficit reduction, what we are saying here is focus on the middle class and then being able to have jobs and income and if you do that you are also in the process, i believe, process probably do better on addressing the deficit. >> this argument is being made in europe and here which is the idea that if you are too austere in your budget and in your proposals and in your effort to deal with the deficit you eliminate possility of...
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Jun 29, 2011
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he said if raising the debt ceiling is urgent and urge republicans to break the deficit. the president pressed on the mission in afghanistan. he said he is now ready to declare victory. certainly victory seems a long way off right now in kabul right now. this raises fresh concerns about turning over security. >> at the taliban or their allies showing they can strike at the heart of afghan power. the hotel was packed with government officials for a conference on transition to afghan security control. the fighting continued throughout the night. in the end, a nato had attack helicopter was needed to kill three of the gunmen. the afghan government still needs a lot of help. among the dead, waiters, musicians performing at a wedding, a senior judge, and police. many internationals were trapped inside the hotel. >> there was some huge blasts. five or six blast. >> this is a part of the taliban's activities in afghanistan. this is against the provision of the momentum that has been gathered by the forces to make sure highly publicized attacks. you should not be fooled by that.
he said if raising the debt ceiling is urgent and urge republicans to break the deficit. the president pressed on the mission in afghanistan. he said he is now ready to declare victory. certainly victory seems a long way off right now in kabul right now. this raises fresh concerns about turning over security. >> at the taliban or their allies showing they can strike at the heart of afghan power. the hotel was packed with government officials for a conference on transition to afghan...
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Sep 10, 2022
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regards to where we were as a nation, economically speaking, we had the ability to put this into our deficit and not saddle americans with a war tax. but what becomes the unintended consequence is that we wind up with an extremely long war because, as it goes on, it just recedes out of our national consciousness. so, for instance, in 2018, before the midterm elections, the polling firm rasmussen, they put a poll into the field asking americans the issues they cared about heading into the midterms. and when they asked about the war in afghanistan, 42% of americans -- it wasn't that the war wasn't a priority for them -- 42% of americans couldn't even say if the war was still going on. they just -- they didn't even know at that point. and for a democracy, that's very dangerous, particularly as the issues of war and peace should be the ones that we consider the most gravely. >> let's go back to a year ago. when the united states pulled our troops from afghanistan, you worked to help evacuate dozens of afghans, including the all-girls robotics team, the family of your interpreter, and many others
regards to where we were as a nation, economically speaking, we had the ability to put this into our deficit and not saddle americans with a war tax. but what becomes the unintended consequence is that we wind up with an extremely long war because, as it goes on, it just recedes out of our national consciousness. so, for instance, in 2018, before the midterm elections, the polling firm rasmussen, they put a poll into the field asking americans the issues they cared about heading into the...
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Jul 20, 2010
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and will add several trillion dollars to deficits down the road. they are opposed to ending those tax cuts which, of course, will add deeply to deficits. >> brown: we heard the president today pointing right to that. saying hey, hypocrisy. >> right. >> it was just last week we heard john kyl, the number two republican in the senate said when pressed, well how are you going to pay for the extension of the bush tax cuts. and the administration is happy to point out that jon kyl didn't have an answer. that $680 billion over ten years, i think is what they estimate those tax cuts on the wealthy to extend them that is what it would cost, the republicans don't have a plan to pay for that. that would just be added to the deficit. and so they're trying to draw the contrast. bush tax cuts to the wealthy can be extended and added to the deficit according to the o administration, how they paint the republicans. but this $34 billion extension of unemployment insurance, emergency spending that as norm pointed out has really been on a bipartisan basis in the pas
and will add several trillion dollars to deficits down the road. they are opposed to ending those tax cuts which, of course, will add deeply to deficits. >> brown: we heard the president today pointing right to that. saying hey, hypocrisy. >> right. >> it was just last week we heard john kyl, the number two republican in the senate said when pressed, well how are you going to pay for the extension of the bush tax cuts. and the administration is happy to point out that jon kyl...
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Dec 23, 2010
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there's no better deficit reduction program than an economy that is growing. and if the economy started contracting as it might have had we not gotten this tax agreement, than the choices we would have to make would be even tougher. >> rose: so there it is, the president of the united states putting a cap on what has been a remarkable week in washington for the president and the congress. coming up next, a conversation with james wolfensohn, the former president of the world bank. >> rose: james wolfensohn is here. he is a well-known philanthropist, not so well thrown as a cellist and most billion known as former president of the world bank. he was appointed to that position by president clinton. he served two terms as the bank's ninth president from 1995 to 2005. he put debt relief for poor countries high on his agenda and fostered a more open agenda encore ruption and wooed critics and especially the script call ngos. the economist magazine said above all his indefatting ai believe energy served as a tonic to an institution that what been in the doll trouble
there's no better deficit reduction program than an economy that is growing. and if the economy started contracting as it might have had we not gotten this tax agreement, than the choices we would have to make would be even tougher. >> rose: so there it is, the president of the united states putting a cap on what has been a remarkable week in washington for the president and the congress. coming up next, a conversation with james wolfensohn, the former president of the world bank....
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Jul 28, 2010
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once that level of comfort is restored, the trust deficit is addressed, we can get back to being friends, allies and stop sort of worrying about what the other is doing. there are people in pakistan -- and i'm not one of them, but there are people in pakistan who are suspicious about what america's long-term intentions are in relation to afghanistan, and for that matter even in relation to pakistan. the pakistani government is working very hard at bringing about normalcy in relations with india, but there are outstanding issues that keep cropping up there as well. so what we are trying to do is deal with several of these issues at a time when we have severe economic and social pressures within our society. >> charlie: before i go, mr. ambassador, i raised this point in a conversation with you today on the telephone. following you is greg mortenson who you know. tell me what it is about him -- because you gave him a huge award personally in pakistan -- what is it about him that makes him a person that the u.s. military and others want to hear from. >> let me just say that i haven't yet ha
once that level of comfort is restored, the trust deficit is addressed, we can get back to being friends, allies and stop sort of worrying about what the other is doing. there are people in pakistan -- and i'm not one of them, but there are people in pakistan who are suspicious about what america's long-term intentions are in relation to afghanistan, and for that matter even in relation to pakistan. the pakistani government is working very hard at bringing about normalcy in relations with...
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Sep 15, 2012
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i closed a $385 million budget deficit. found ourselves a great police chief. there's this little company called twitter, 450 people at the time that said, hey, if you don't help us out, we're going to have to leave the city. my gosh, working with the board of supervisors, that was one of the most marvelous things we've done. guess what happened? over 450 technology companies that felt the confidence in the city, moving in, creating jobs, we're the third lowest unemployment rate in the whole state of california because of technology and all the other wonderful things happening in the public and private sector. >> let's move to the intractable problems, homelessness, housing crisis, affordability of housing for some people. though you've said you've got a handle on the budget, you came from being the city administrator, so at least you know how things work, these problems that are going to be solved in your lifetime, my lifetime? >> i certainly hope so. i think we've got a good record to achieve the foundation to make them more successful. take, for example, hou
i closed a $385 million budget deficit. found ourselves a great police chief. there's this little company called twitter, 450 people at the time that said, hey, if you don't help us out, we're going to have to leave the city. my gosh, working with the board of supervisors, that was one of the most marvelous things we've done. guess what happened? over 450 technology companies that felt the confidence in the city, moving in, creating jobs, we're the third lowest unemployment rate in the whole...
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Aug 27, 2021
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the country suffers from huge budget deficit, crippling debt, and people do not know when they can look forward to a better tomorrow. >> let's look at international reaction to the attacks in kabul. germany has called it heinous and says a htal plan is on standby to help people at the airport. >> there is a high level of pressure to be exerted in the mission to airlift people out. the window of opportunity is closing. tens of thousands of people have been airlifted to security. those who have not been able to leave with the help of the airlift will not be forgotten. we will continue to work to ensure they can leave their country if they wish. >> angela merkel has canceled a trip to israel due to the crisis in afghanistan. the u.k. prime minister has also spoken. boris johnson condemned the attack as barbaric, paying tribute to those involved in the evacuation. he added the u.k. evacuation effort would continue. >> we have extracted the overwhelming majority of those under both schemes, the eligible persons, the u.k. nationals, plus the afghans, the interpreters, and others. it has been
the country suffers from huge budget deficit, crippling debt, and people do not know when they can look forward to a better tomorrow. >> let's look at international reaction to the attacks in kabul. germany has called it heinous and says a htal plan is on standby to help people at the airport. >> there is a high level of pressure to be exerted in the mission to airlift people out. the window of opportunity is closing. tens of thousands of people have been airlifted to security....
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they are looking to reduce the deficit. the president was not so pressed on the issue of afghanistan. he is not ready to declare victory just yet. victory seems a lot way off in kabul right now. there was an attack on a hotel yesterday. the taliban has claimed responsibility. this brings fresh concerns about turning over security to the afghans. >> the taliban or their allies showing that they can strike at the heart of afghan power. the intercontinental hotel was packed with government officials for a conference on transition to afghan security control. the fighting continued throughout the night. in the end, a nato attack helicopter was needed to kill three of the suicide bombers as they fired down from the rooftop. the government still needs a lot of help. among the dead, waiters, musicians, a senior judge, and police. many internationals were trapped inside of the hotel. >> i don't think we really know what happened. >> there was huge blasts, some 546. -- some explosions. >> this is a part of the taliban activities at t
they are looking to reduce the deficit. the president was not so pressed on the issue of afghanistan. he is not ready to declare victory just yet. victory seems a lot way off in kabul right now. there was an attack on a hotel yesterday. the taliban has claimed responsibility. this brings fresh concerns about turning over security to the afghans. >> the taliban or their allies showing that they can strike at the heart of afghan power. the intercontinental hotel was packed with government...
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up>> brown: catherine, picn that, because it's also we're living in an era of high debt .nd deficits these are things that in the past we thought those were bad. those where hurt the economy, they don't seem to be. so there's a change in economic thinking and behavior. >> exactly. so the general trend after world war ihas been that as the economy has improved, as unemployment has faaven, deficitsfallen to or in some periods, in fact, they have fflipped incal surpluses. instead, what wsaw in this past decade is that as unemploymentontinued to fall, deficits instead grew. they got bigger. and today, neither party seems terribly concerned, at least at the moment, about fiscal responsibility, about getting deficits and debt back in line. maybe that'll change. of course, if we see a change in the white house or we change, we see a change in power in congress. but we have also seen an evolution. i would argue amongst economic thinkers. so those who are not as wedd to politics about whether we should care as much about deficits as we have erstorically, that maybe we were overly cod about ke
up>> brown: catherine, picn that, because it's also we're living in an era of high debt .nd deficits these are things that in the past we thought those were bad. those where hurt the economy, they don't seem to be. so there's a change in economic thinking and behavior. >> exactly. so the general trend after world war ihas been that as the economy has improved, as unemployment has faaven, deficitsfallen to or in some periods, in fact, they have fflipped incal surpluses. instead, what...
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. >> he promises to reduce the deficit any sense the mood in italy is disillusioned and angry. canchallenge is whether he put together a coalition which will last and will have credibility. what europe leaders fear most is political instability in italy. there is one party leader whose threatens to turn every calculation upside down. he arrives by camper van. he is a wild thing. comedian who rages against corruption and the political establishment. he wants to hold a referendum on the euro and he is filling the public squares. mainstream candidates fear him and his simple message. people are killing themselves because they do not have work, he told me. italians are going to eat in soup kitchens. another unknown factor is berlusconi, promising to cancel taxes amateur and money to the voters. he counseled his final campaign appearance tonight, citing troubles with his vision. this is to europe's leaders would like to see in a broad stable coalition, mario monti, the former prime minister. tonight in iran, a vast crowds are gathering to. the comedian -- tonight and crowds are rome
. >> he promises to reduce the deficit any sense the mood in italy is disillusioned and angry. canchallenge is whether he put together a coalition which will last and will have credibility. what europe leaders fear most is political instability in italy. there is one party leader whose threatens to turn every calculation upside down. he arrives by camper van. he is a wild thing. comedian who rages against corruption and the political establishment. he wants to hold a referendum on the...
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Apr 19, 2011
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deficits and indebtedness and it gives them cause for concern. they said that it puts the u.s. in a position where it is not nearly as credit worthy as other sovereign nations that have triple-a or pristine credit ratings so by firing the shot across our bowl giving us a warning they said there's some probability as high as perhaps 2 and 3 over the next two years that u.s. credit rating could be downgraded from triple-a. >> woodruff: what are they basing it on? we notice that the other major ratings agency moody's i guess has drawn a somewhat different conclusion. now they recently said they've looked at what's going on and they think the country may be headed in the right direction when it comes to dealing with its credit issues. >> i think first of all it's different than having a difference of opinion about general electric or at&t where split ratings are cause for concern. but with the united states a rating agency has a right to raise a question about the ability of our institutions to deal with this. a lot of it depends on how much faith you have in the congress and the w
deficits and indebtedness and it gives them cause for concern. they said that it puts the u.s. in a position where it is not nearly as credit worthy as other sovereign nations that have triple-a or pristine credit ratings so by firing the shot across our bowl giving us a warning they said there's some probability as high as perhaps 2 and 3 over the next two years that u.s. credit rating could be downgraded from triple-a. >> woodruff: what are they basing it on? we notice that the other...
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the republicans say they want to reduce the deficit. every single observer who's not an elected official, who's not a politician says we can't reduce our deficit in the scale and scope that we need to without having a balanced approach that looks at everything. democrats have to accept some painful spending cuts that hurt some of our constituencies and we may not like. and we've shown a willingness to >> brown: vice president biden has led talks on reducing the deficit by $4 trillion, while raising the federal debt ceiling. the talks broke down last week, as republicans refused again to support tax increases. instead, they pressed for deeper spending cuts. the president said today even medicare and medicaid might need today, the president said if republicans focus solely on spending, it will mean cutting everything from college scholarships to food inspections. >> if everybody else is willing to take on their sacred cows and do tough things in order to achieve the goal of real deficit reduction, then i think it would be hard for the rep
the republicans say they want to reduce the deficit. every single observer who's not an elected official, who's not a politician says we can't reduce our deficit in the scale and scope that we need to without having a balanced approach that looks at everything. democrats have to accept some painful spending cuts that hurt some of our constituencies and we may not like. and we've shown a willingness to >> brown: vice president biden has led talks on reducing the deficit by $4 trillion,...
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Sep 14, 2011
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in exchange for further aid, greece would slash its deficit. the fear that greece is heading for bankruptcy has savaged the markets and the banking sector. two french banks saw their ratings downgraded today on evidence they were exposed to great debt. there was start evidence at the european parliament that europe could be destroyed by the eurozone crisis. the mood was gloomy. one minister declared europe was in danger. another said the european union itself could not survive a breakup of the eurozone. >> we are confronted with the most serious challenge of a generation. it is a fight for what europe presents to the world, a fight for integration. >> president barroso said the answer was more integration, but there were doubts expressed that the euro could be saved. there are doubts whether greece can escape bankruptcy in the long term. a german minister said it would not be the end of the world if greece was forced out of the eurozone. the dutch government has begun exploring the cost to its banks increased defaults, runs out of money. who ho
in exchange for further aid, greece would slash its deficit. the fear that greece is heading for bankruptcy has savaged the markets and the banking sector. two french banks saw their ratings downgraded today on evidence they were exposed to great debt. there was start evidence at the european parliament that europe could be destroyed by the eurozone crisis. the mood was gloomy. one minister declared europe was in danger. another said the european union itself could not survive a breakup of the...
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he talked about the deficit, the problems of the deficit and the necessity of addressing that. he should remember, we should remember that the fed chairman were in support of the tax cuts for the wealthiest americans. and that means that there's less fiscal space. if we didn't have that... remember, back in 2000, the end of the clinton administration, we had a 2% of g.d.p. surplus. and it was the big tax cut that really changed the scene and turned those surpluses into deficits. so the reason why this is so important is because this is now crowding out the kinds of spending for job retraining programs for infrastructure investment that would create jobs for ordinary americans. >> lehrer: >> well, briefly, matt slaughter just thigh thought back to the coming out here in a press conference. he is trying to talk about things like the deficit. he did actually say that it was the most important thing facing america today. >> yeah, it was very telling. he said it was the most important long-term challenge that america faces and i think he was right in saying i don't think america sho
he talked about the deficit, the problems of the deficit and the necessity of addressing that. he should remember, we should remember that the fed chairman were in support of the tax cuts for the wealthiest americans. and that means that there's less fiscal space. if we didn't have that... remember, back in 2000, the end of the clinton administration, we had a 2% of g.d.p. surplus. and it was the big tax cut that really changed the scene and turned those surpluses into deficits. so the reason...
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. >> president obama unveiled his plan this week, bringing down the deficit. the imf warns that too much austerity too soon could threaten the recovery. >> fiscal consolidation cannot be too fast. it cannot be too slow, as it would kill credibility. the speed must vary across countries. the key is credible, medium term consolidation. >> deep worry that greece might destabilize the region led to a gloomier forecast by europe, underlined by a credit rating downgrade for italy. >> for more on the outlook, i am joined by michele. yet more misery, this time by the imf. does the imf report carry more weight than the others we have seen recently? >> there is plenty of scope that these numbers could change. they could turn out to be even more grim and we are hearing at this stage. the role of the imf to be a leader, to point out the dangers and the policy recommendations -- >> what does the imf want? the are calling against sharp budget cuts, but that is part of the problem. what can policymakers actually do? >> if you look at the industrial agencies, there is a probl
. >> president obama unveiled his plan this week, bringing down the deficit. the imf warns that too much austerity too soon could threaten the recovery. >> fiscal consolidation cannot be too fast. it cannot be too slow, as it would kill credibility. the speed must vary across countries. the key is credible, medium term consolidation. >> deep worry that greece might destabilize the region led to a gloomier forecast by europe, underlined by a credit rating downgrade for italy....
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trade deficit with the other two countries, but the talks, which reconvene next month in mexico city, are at an impasse." bloomberg news" editor sarah mcgregor joins me now from washington to discuss this. sarah, this is kind of one of those stories that just flew under the radar, compared to all the other news that's being generated from the white house these days. so, what level of talks are we at, and how significant is this going forward? >> yes, so we're two months into the re-negotiation of the north american free trade agreement. the last round of talks ended last week, and that's the round where the u.s. put its hard-line proposals on the table. this is things like rules of origin. they want to increase the amount of regional content that needs to be in a car for it to qualify for duty-free access under nafta. and they also want to introduce a u.s.-specific provision, which would be 50%. >> sreenivasan: 50% of the car has to be u.s. product, if it's going to these countries? >> yes, it has to be sourced from the u.s., and that would be in line with trump's proposal which, as y
trade deficit with the other two countries, but the talks, which reconvene next month in mexico city, are at an impasse." bloomberg news" editor sarah mcgregor joins me now from washington to discuss this. sarah, this is kind of one of those stories that just flew under the radar, compared to all the other news that's being generated from the white house these days. so, what level of talks are we at, and how significant is this going forward? >> yes, so we're two months into the...
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if you look at what priority republicans put on the issue of debt and deficit, it peaked at 82% in the middle of the trump -- i'm sorry -- the obama administration. since then it's beening back down. so if you look at the arc of republican concern, voter thncern with debt and deficit, really high whee democrats are in office, pretty low when georggeorge w. bush s in office, pretty low when donald trump is in office. >> bill wells and joe walsh and mark sanford are all entering this knowing they basically hava noe of winning e nomination and less of a chance becoming t united states. t that's not their only goal. sanford is saying i want to have a conversation. he doesn't feel the republican party has had an internal debate about who they are since esident trump became president. mark sanford tried to have that congress and startticizingn president trump. president trump endorsed his primary ppsent and that pon won and went on to lose in the general election to a democrat, which was a pretty big surprise is that direcctist these candidates are hoping to have a conversation or damage the
if you look at what priority republicans put on the issue of debt and deficit, it peaked at 82% in the middle of the trump -- i'm sorry -- the obama administration. since then it's beening back down. so if you look at the arc of republican concern, voter thncern with debt and deficit, really high whee democrats are in office, pretty low when georggeorge w. bush s in office, pretty low when donald trump is in office. >> bill wells and joe walsh and mark sanford are all entering this...
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. >> brown: now, the british tackle their big government deficits with deep spending cuts. we begin our coverage with a report from gary gibbon of "independent television news." >> reporter: the coalition government today went into uncharted territory, unveiling cuts on a level not seen for generations. we know what similar exercises have brought in greece after emergency spending cuts. mass demonstrations have come to ireland in the two years since their drastic cutbacks. and france is in the grip of strikes and shortages. george osbourne hopes that he has packaged his unprecedented cuts in a way that would avoid all that, will bring growth and better times in time for the next general election. >> today is the day when britain steps back from the brink, when we confront... (audience reacts) ... when we confront the bills from a decade of debt, a day of rebuilding when we set out a four-year plan to put our public services and welfare state on a sustainable footing for the long term so that they can do their job, providing for families, protecting the vulnerable and underp
. >> brown: now, the british tackle their big government deficits with deep spending cuts. we begin our coverage with a report from gary gibbon of "independent television news." >> reporter: the coalition government today went into uncharted territory, unveiling cuts on a level not seen for generations. we know what similar exercises have brought in greece after emergency spending cuts. mass demonstrations have come to ireland in the two years since their drastic cutbacks....
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Sep 10, 2019
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so if you look at the arc of concern with debt and deficit, really high when the mocrats are in office, pretty enlow wh georggeorge w. bush is in offic, pretty low when donald trump is in office. >> bill wells and joe walndh a mark sanford are all entering this knowing they basically have no chance of winning the nomination a less of a chance becoming the united states. but that's not their only goal. sanford is saying i want to have a conversation. he doesn't feel the republicaad internal debate about who they are since president trump became president. mark sanford tried to have tt debade bathe when he was in congress and started criticizing president trump. hipresident trump endorses primary opponent and that person to lose ingehe ral election to a democrat, which was a pretty big surprise in that direc district. e ese candidates are hoping to athave a conversion or damage the incumbent. and incumbent presidents who have had primary challenges in the past, there is a history there of them going on and being denied a sond term. but it is hard to say these three are at the same severa
so if you look at the arc of concern with debt and deficit, really high when the mocrats are in office, pretty enlow wh georggeorge w. bush is in offic, pretty low when donald trump is in office. >> bill wells and joe walndh a mark sanford are all entering this knowing they basically have no chance of winning the nomination a less of a chance becoming the united states. but that's not their only goal. sanford is saying i want to have a conversation. he doesn't feel the republicaad...
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Jan 5, 2011
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and the long-term problem being the fact that our deficit-to-debt ratio is headed to 100%. we're headed down the roads of a greece or ireland. >> it was very interesting because george osz osborne was in new york and had a pretty rapturous reception and he pointed out that the simpson/bowles plan is not that different from what the u.k. government is trying to do right now. it reese roughly speaking three quarters spending cuts, one quarter tax increases. and many outlines are quite similar. so as senator gregg says, there are templates on the table, the question now is are they going to fly. >> rose: congressman mccotter, what did you think of the simpson/bowles deficit recommendations. >> i ties in what w what we've been saying before. the question is about austerity and painful spending cuts. but what people want to know is towards what end? are we talking about still working within whether the great society modern of governance from an industrial is this big, is it this big when the reality is, as we many michigan understand from what our auto companies went through, wh
and the long-term problem being the fact that our deficit-to-debt ratio is headed to 100%. we're headed down the roads of a greece or ireland. >> it was very interesting because george osz osborne was in new york and had a pretty rapturous reception and he pointed out that the simpson/bowles plan is not that different from what the u.k. government is trying to do right now. it reese roughly speaking three quarters spending cuts, one quarter tax increases. and many outlines are quite...
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it's overall deficit, either. that was just not an issue, it seems, anymore. >> warner: did he give you confidence in a second term with this new, perhaps, stokerness, a realization that he could really make things happen? >> i wasn't convinced that he really had it in him to-- to take his presidency to a level where he could cause congress to do the things that he wants them to do. >> for me, it's still an open question. how is he going to work with people who-- who have made it their explicit goal to make sure that he's not in office. if he comes to be in office again, i don't know. he doesn't tell me what the road is, or even the end point. i don't know what the road is, and i don't know where the road is going. >> warner: sounds like you're lost. >> right. >.s. >> warner: do you all remain undecided? >> i'm not they've been asking are you better off now than you were four years ago? i would answer in the affirmative. >> i will be looking at my own sprawls also coupled with i think that the republicans perhaps
it's overall deficit, either. that was just not an issue, it seems, anymore. >> warner: did he give you confidence in a second term with this new, perhaps, stokerness, a realization that he could really make things happen? >> i wasn't convinced that he really had it in him to-- to take his presidency to a level where he could cause congress to do the things that he wants them to do. >> for me, it's still an open question. how is he going to work with people who-- who have made...
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plans to make budget cuts, but david cameron says tough decisions must be made now to solve the budget deficit. speaking at the party conference, he said he wished there was an easier way, that there were not more job losses and spending cuts to come. but he also spoke of his vision for a smaller and more nimble states where citizens take more responsibility for their own lives. you are watching "bbc world news." still to come -- the battle involving money and americans and a football club. more than 80 have been killed in landslides and flash flooding in indonesia. we have this from jakarta. >> this is what this town looks like from the air. huge swaths of land submerged under water. it has been devastated of -- it has been devastated by the rains over the last several days. it is estimated that 80% of the town has been destroyed. this is one of the most remote parts of indonesia, so getting eight year has been challenging. the bad weather has been made -- been making it more difficult. they are struggling to reach those in need this the most. there is concern that water levels are continuing
plans to make budget cuts, but david cameron says tough decisions must be made now to solve the budget deficit. speaking at the party conference, he said he wished there was an easier way, that there were not more job losses and spending cuts to come. but he also spoke of his vision for a smaller and more nimble states where citizens take more responsibility for their own lives. you are watching "bbc world news." still to come -- the battle involving money and americans and a football...
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Dec 9, 2010
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the deal, a number of democrats argued it gives too much to the wealthy and adds $900 billion to the deficit. outgoing house speaker nancy pelosi said the response was "not very good" when her caucus met last night. >> well, i think it is fair to say that there is a certain amount of unease with the proposal that was put forth by the president. >> lehrer: vermont congressman peter welch was even circulating a letter asking fellow democrats to reject the president's proposal. >> and what the president did by agreeing to the extension of these tax cuts to the wealthy and the very well off was essentially leave that fight and leave the field in the seventh inning when we have much... when we had a couple more innings to go. >> lehrer: on the senate side, majority leader harry reid suggested action might come quickly, but he said democrats do want changes in the plan. >> i'm right where i was yesterday. it's something we have to work on. i've gotten a lot of input from the caucus. i've got... we had white house representatives again there today. they were... they did some good... they did some e
the deal, a number of democrats argued it gives too much to the wealthy and adds $900 billion to the deficit. outgoing house speaker nancy pelosi said the response was "not very good" when her caucus met last night. >> well, i think it is fair to say that there is a certain amount of unease with the proposal that was put forth by the president. >> lehrer: vermont congressman peter welch was even circulating a letter asking fellow democrats to reject the president's...
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that lowers deficit in the long run. we actually need stimulus now. we're almost getting the opposite coming in to next year, we're going to have quite a fiscal drag kick in as the 2011 tax cuts run off. that's going to hurt growth a lot next year. >> woodruff: ken rogoff, how do you see what needs to happen in the short term to turn this around or do we just fasten our seat belts? >> i think definitely we need to see higher inflation. we don't need to see the fed just talk about qe-3, more bond buying but qe-3, they should announce they're trying to hit significantly higher inflation. they really have to move decisively. it was really half baked and timid the first time they did it. i don't think they're out of bullets at all. i think it can be effective. but they need to do something. they need to do something about the mortgage debts. we have to find a plan. there are plans out there for writing down the mortgage debt. finally, of course, there are lots of areas we could have so- called structural reforms but let's start with getting rid of the deb
that lowers deficit in the long run. we actually need stimulus now. we're almost getting the opposite coming in to next year, we're going to have quite a fiscal drag kick in as the 2011 tax cuts run off. that's going to hurt growth a lot next year. >> woodruff: ken rogoff, how do you see what needs to happen in the short term to turn this around or do we just fasten our seat belts? >> i think definitely we need to see higher inflation. we don't need to see the fed just talk about...
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. >> we've got the biggest budget deficit in the g-20. and over the past decade many of our most pressing social problems have actually got worse. so it's time for something different. something bold. something that doesn't just pour money down the throat of wasteful top-down government schemes. the big society is that something different and bold. >> how will it work? money to fund it will come from dormant bank and building society accounts. the projects will be run by unpaid local community organizers. and civil servants will help get the initiatives working. liverpool has seen major regeneration in recent years but what will people think of taking community 3r07b8gs into their own hands? >> you can have your own say. it's not for the people to decide, the other people, you've got a voice there. >> to me the big society is a load of volunteers doing things for free. >> sounds a little bit like he's trying to cut costs by getting local volunteers to run some of the services that maybe would be better done by professionals in that area.
. >> we've got the biggest budget deficit in the g-20. and over the past decade many of our most pressing social problems have actually got worse. so it's time for something different. something bold. something that doesn't just pour money down the throat of wasteful top-down government schemes. the big society is that something different and bold. >> how will it work? money to fund it will come from dormant bank and building society accounts. the projects will be run by unpaid...
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when do we switch to acting on the deficit? >> great question. when recovery is fully and clearly established, it is imperative that we turn to deficit reduction. look, what we need to do is tilt the path. in the short run, we need to make sure were doing everything we can to support demand. in the long run, the problem is exactly the opposite. we need to make sure that spending and taxing are in much better parity. >> brown: in the longer run, you look now at what's going on in europe, where austerity is the name of the game. do americans face a future like that? do we have to be prepared for fewer government services, a kind of future of cuts at all levels? >> if you look at the scale of the adjustment that's necessary in the united states, it is important relative to our current political challenges and our current political process. but it is dwarfed-- by a factor of four, five, eight-- by the magnitude of the fiscal adjustments that are necessary in many countries in europe. there will obviously be things we'll do that we wish we didn't have
when do we switch to acting on the deficit? >> great question. when recovery is fully and clearly established, it is imperative that we turn to deficit reduction. look, what we need to do is tilt the path. in the short run, we need to make sure were doing everything we can to support demand. in the long run, the problem is exactly the opposite. we need to make sure that spending and taxing are in much better parity. >> brown: in the longer run, you look now at what's going on in...
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the state but the local budget deficits. i think they want to weaken unions because they see that unions are best the best and strongest friends of democrats and of democratic candidates. to the extent they can weaken unions and deny them dues money, it will make it that much harder for them to really fight for democratic candidates in elections. >> suarez: we saw big crowds come out. we saw in public opinion polls a lot of spoken support for public employees unions. yet as steven greenhouse observes, they didn't win the battle at the end of the day. did they. >> well that's a good question. i think we maybe have to take a longer view of it than just whether, you know, sure, a lot of these bills, these very retroactive bills passed that stripped workers of collective bargaining rights. but if you look at it differently i think you saw that workers fought back. they fought back with their communities. a lot of folks standing side by side with them. all these republican governors who attacked workers and unions and collective
the state but the local budget deficits. i think they want to weaken unions because they see that unions are best the best and strongest friends of democrats and of democratic candidates. to the extent they can weaken unions and deny them dues money, it will make it that much harder for them to really fight for democratic candidates in elections. >> suarez: we saw big crowds come out. we saw in public opinion polls a lot of spoken support for public employees unions. yet as steven...
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to make up some of that deficit, dr. syafari is training others to help out. >> ( translated ): that is why we are working with other professionals like nurses. also we are training the families of the patients and we're training former patients.& it's the key to the wellness of the patients. and it's proven that it's working here in cianjur. >> reporter: while dr. syafari is pleased with the results he has been getting with his community medicine project, he is frustrated the government doesn't provide more resources. >> ( translated ): a very small amount of money is allocated because they don't think mental illness is the same as physical illness. we want the government to know that it is. patients need to be treated the same. and mental health doctors need the budgets to treat people with medicines.ç >> reporter: dr. engang rahayu sedyaningish is indonesia's health minister. she agrees that mental health is a major problem, but says that she is faced with a wide variety of health issues that need funding. >> it is
to make up some of that deficit, dr. syafari is training others to help out. >> ( translated ): that is why we are working with other professionals like nurses. also we are training the families of the patients and we're training former patients.& it's the key to the wellness of the patients. and it's proven that it's working here in cianjur. >> reporter: while dr. syafari is pleased with the results he has been getting with his community medicine project, he is frustrated the...
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but that's money that could be used to reduce budget deficits over time to get our debt ratio down. and so to use it for a very inefficient new spending program, a new set of job stimulus of the sort that the president has proposed, i think is a mistake in use of that money. >> woodruff: austen goolsbee, he's saying it's just a cock eyed use of the money. >> he is saying that. but just to put in perspective, when the economy is bad enough even professor feldstein, you know, in late 2008 was saying let's have 300 billion of direct stimulus. i think there is a question of, do you view this moment as one in which it warrants action that the government would be doing things to try to get the private sector to help stand up? i think that it is such a moment. and if you decide that it is such a moment, then the question is, do you want to do that in a way that's paid for over the ten-year budget window or do you want to do it that it's not paid for. if you think you should do something and you think it should be paid for, then the way it should be paid for is using things that we should h
but that's money that could be used to reduce budget deficits over time to get our debt ratio down. and so to use it for a very inefficient new spending program, a new set of job stimulus of the sort that the president has proposed, i think is a mistake in use of that money. >> woodruff: austen goolsbee, he's saying it's just a cock eyed use of the money. >> he is saying that. but just to put in perspective, when the economy is bad enough even professor feldstein, you know, in late...